ATARS II: $1.1B to Lockheed to Train AFSOCOM Pilots. Lockheed Martin has announced a 10-year Aircrew Training and Rehearsal Support II (ATARS II) contract from USAF Special Operations Command (AFSOCOM).
You invest pre-tax earnings in an IRA and your investment grows on a tax-deferred basis. You can use IRA funds to buy almost any kind of investment including an annuity. Under federal tax laws, you must begin making annual withdrawals from your IRAs once you reach the age of 70 1/2. The size of the withdrawals depends on your life expectancy and the balance of your IRA accounts.
If you're an IRA beneficiary, on the other hand, you may not have that much time. In most cases, you have to open an inherited IRA, then make minimum annual withdrawals based on your life expectancy. The deadline to begin withdrawals is the end of the year after the year in which the account owner died.